Bitcoin Slips Below $112K as China Retaliates Against U.S. Tariffs
Global markets turned red on Tuesday as China’s retaliatory trade measures reignited fears of a worsening U.S.–China conflict. The move triggered a wave of risk-off sentiment, sending Bitcoin below $112,000 and wiping out hundreds of millions in leveraged positions.
Asian equities led the selloff — Japan’s Nikkei dropped over 3%, its worst performance in nearly two months — while U.S. and European futures also fell. Safe-haven assets saw mixed reactions: Treasury yields dipped toward 4.03%, while gold and silver reversed earlier gains.
Crypto markets mirrored the downturn:
- Bitcoin: ↓ 3% to $111,869
- Ethereum: ↓ 4% near $4,000
- BNB: ↓ over 10% after last week’s rally
- XRP, Solana, Dogecoin: ↓ 5–6%
According to CoinGlass, total liquidations reached $630 million, with long positions making up two-thirds of the losses.
The drop follows last week’s shock after U.S. President Donald Trump’s 100% tariff threat on Chinese imports, which caused crypto’s largest-ever $20 billion liquidation in just 24 hours.
Despite a brief weekend rebound, the market correction underscores crypto’s ongoing sensitivity to global macroeconomic risk.